The cost of governance in Nigeria has gotten too expensive for President Muhammadu Buhari led administration as he once again confirms the scrapping of some federal agencies and ministries using the Ornosanya’s report of 2012.
It is a well-known fact that the suffocating impact of the high cost of governance on our national life has made it to assume a national emergency dimension.
With this high cost of maintaining the bureaucracy, the economic fortunes of the country have recently been pronounced as uncertain with the International Monetary Fund (IMF) downgrading the growth prospects of the economy for 2018 and 2019.
However, Speaking during the democracy day broadcast on Friday, Buhari said the review had become imperative in view of the nation’s dwindling resources and the rising cost of governance.
“In the face of dwindling resources and the rising cost of governance, I have authorised that the White Paper on the Rationalisation of government parastatals and agencies be reviewed for implementation.’’
Naija News understands that President Muhammadu Buhari had earlier this year approved the implementation of the Steve Oransaye Committee report on the rationalization of government agencies.
According to oransanya’s report, the cost of governance in Nigeria is one of the highest in the world, the committee had recommended a reduction in the number of statutory agencies from 263 to 161.